Urban developments are becoming more like five-star hotels, according to Clodagh. Read More

NEWS BITES

Apartment in Dubai’s Bulgari Residences Sells for Dh60 Million A Dh60 million (US$16.3 million) apartment sale at the Bulgari Resorts and Residences has become Dubai’s most expensive sale in the first quarter of 2018. Two Jumeirah Bay villas also sold for Dh41.1 million (US$11.2 million) and Dh36 million (US$9.8 million), while two apartments at the Royal Atlantis residences have sold for Dh25 million (US$6.8 million) and Dh21.3 million (US$5.8 million). High-end listings are now coming both straight from developers as well as from investor-owners, but there is reportedly higher demand from luxury buyers to purchase straight from developers. Gulf News

BurgerFi Founder to Auction Fort Lauderdale Mansion John Rosatti, founder of casual dining chain BurgerFi, will auction off the 16,000-square-foot waterfront Fort Lauderdale mansion that he bought three years ago for $12 million. The auction, being held by DeCaro Auctions International, will take place onsite on April 14. The five-bedroom gated property includes a 5,000-bottle wine cellar and a 6,500-square-foot multipurpose structure that could hold up to 30 vehicles. The Real Deal

High-End Sydney Sellers Cut Prices During the Weekend’s Property Auctions A waterfront Sydney, Australia, property that initially listed for A$6.8 million (US$5.24 million) last year sold over the weekend for A$6.18 million (US$4.76 million), still below its more recent A$6.2 million (US$4.78 million) guide figure. "The market has definitely shifted," said the selling agent on the deal. "There are buyers, but they’re cautious and picky." This weekend’s round of auctions saw a number of homes sell for at or below their guide price, and bidder participation rates were low as well. Domain

Families in China’s Smaller Cities Are Bullish on Property Purchases The household property investment index that Nielsen puts together for the Shanghai-based Bank of Communications increased to 111 in March after remaining stagnant at 109 for the first part of the year. The increase is largely driven by buyer demand in China’s smaller cities, where the index rose to 115, while it stayed at 106 for bigger "core" cities including Beijing and Shanghai. Price growth for new properties in big cities dropped 0.1% year-over-year in February, but in smaller cities rose by 0.4%. South China Morning Post

DISCLAIMER: The currency conversion is provided for illustration purposes only. It is meant only as an approximation based on the latest information available and should not be relied upon for any other purposes. We are not responsible for any loss that you may incur as a result of relying on these currency conversions. All property prices are as stated by the listing agent.

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